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What Makes You Mad? Sky-high interest on loan 9:18 PM

Pressure At Mortgage Firm Led To Mass Approval Of Bad Loans

Maggie Hardiman cringed as she heard the salesmen knocking the sides of desks with a baseball bat as they walked through her office. Bang! Bang!

" 'You cut my [expletive] deal!' " she recalls one man yelling at her. " 'You can't do that.' " Bang! The bat whacked the top of her desk. As an appraiser for a company called New Century Financial, Hardiman was supposed to weed out bad mortgage applications. Most of the mortgage applications Hardiman reviewed had problems, she said.

But "you didn't want to turn away a loan because all hell would break loose," she recounted in interviews. When she did, her bosses often overruled her and found another appraiser to sign off on it.

Hardiman's account is one of several from former employees of New Century that shed fresh light on an unfolding disaster in the mortgage industry, one that could cost as many as 2 million American families their homes and threatens to spill over into the broader economy.

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Infrormation on Loans

NABARD's micro-finance project to have corpus - Hindu

Sun, 27 May 2007 21:29:45 GMT

NABARD's micro-finance project to have corpus Hindu, India - 3 hours ago Mumbai, May 28 (PTI): Buoyed by the growing success of micro-finance movement in the country, National Bank for Agriculture and Rural Development (NABARD) ...

Iowa troops get break on student loans (WOI-TV Des Moines)

Sat, 26 May 2007 17:29:04 GMT
DAVENPORT, Iowa (AP) - Hundreds of military members in Iowa are getting a break on their student loans. The Iowa Student Loan Liquidity Corporation says it won't charge troops interest on their loans while they're deployed.


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